tv Varney Company FOX Business December 2, 2020 9:00am-12:00pm EST
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maria: have a great day, thank you for being here. my thanks to this great panel. right onto "varney and company" we go. stuart: good morning, everyone. this is what happens when you defy the lockdown rules and go on television to report what you have done. arrested and led away in handcuffs, the owner of max public housing on staten island, he declared an autonomous zone so he could stay in business after a shutdown order. he was on his show yesterday. hours later the man was arrested. in california two more examples
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of pandemic rule breaking hypocrisy. the mayor of san francisco attended a big dinner at the wildly expensive french laundry restaurant the day after governor newsom's rule breaking out into. the mayor san jose traveled to a thanksgiving dinner with elderly relatives breaking california's travel rules. december 2nd, holiday season, lockdown restrictions are growing and in my opinion the mood of defiance is also growing. put all that aside for a moment, very positive news of the morning, britain grants approval to pfizer's vaccine. inoculations start next week. this is a first in the western world, pfizer and its partner make enough vaccine for 20 million people. hospitals, elderly care centers get it first starting with people 80 and above moving down the age scale. that is how they are doing it in britain. the good vaccine use not helping the market today. the dow a solid gain yesterday,
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100 points, the s&p and the nasdaq also on the downside. then there is this, china puts leaders of the democracy movement in prison. those young protesters crushed, senators rick scott and marsha blackburn will have something to say about that. britain is first in the vaccine race. alex azar will have something to say about that and him tebow has a lot to say about being positive. "varney and company" is about to begin. ♪ stuart: it is kind of a screech by ac/dc, screeching to start the morning.
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maria: the energy on this wednesday. stuart: let's repeat this for our viewers. the co-owner of mc mac's public housing on staten island was a guest on the program, the bar declared itself an autonomous zone, he was on the show and this is what he said. >> only thing we are fighting is the indoor dining ban because it is just a mandate with all other laws, regulations and rules we are abiding by that and what we are asking for is our local governments help us and agencies if you are going to slap us with cease-and-desist orders you might as will be the ones who come down to check it out. stuart: they did come down and check it out and arrested him. in fact five city officers showed up to take him away. we have a bar owner arrested for staying open but lawmakers
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break the rules and just say sorry. an example, the mayor of san francisco caught having dinner at the french laundry just one night after governor gavin newsom's famous rule breaking night out. we have more examples of california officials blatantly ignoring their own rules. pfizer, covid vaccine, they won authorization in britain and this is the first. >> it is and uk is the first to approve the covid vaccine so 20 million brits will be an ocular later, starts next week. who goes first? those most at risk of dying, healthcare workers and those over 80 years old, goes down according to age. no one under 50 makes the list
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except those with underlying elf conditions. it is predicted the uk will reach what we want, herd immunity the middle of next year and britain's national health system will reach out to people as their shot becomes ready. what great britain is doing is in many ways a trial run for the us but know about raises questions why another country is approving a vaccine by a us company first. stuart: when are we going to get the first pfizer shipments? >> december 15th, two weeks from today. we have the fda advisory meeting, pfizer, this was all pre-done, well coordinated, initial doses them been distributed, they are waiting on the fda green light and they can deliver them and after pfizer waiting in the wings with another effective vaccine is modernand those shouldn't
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will be delivered december 20 second. stuart: that is good news, thanks. a reminder alex azar at 9:45 on this program. how come the brits got there first? to the futures market, you are seeing some red across the board. shah gilani joins us now. you are the guy who said the market would double and you said that right before the 2016 election. i will say you were right. what is your next prediction? >> i'm very constructive on the market. i think 2021 will be a stellar year. i'm calling for 10 percent-15% and only one caveat could disrupt that, a new administration changing tax policy, changing regulatory policy in a way that upends the market. i don't think that will happen but that's the only caveat to a bright outlook for 2021 and beyond. stuart: that would make it the longest bull market i can remember. this bull market started with
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the march low of 2009 when the dow is at 6500. that was a long time ago. for years and years we can keep going? >> that bull market is intact, the most hated, the most distrusted bull market in history. it remains that way. everyone skeptical as we made higher highs was all the money sidelined is waiting for something, don't know what and they have to play catch-up and put money into the market. this has gone on since 2009. we had hiccups and those are opportunities for buyers to get it. everyone is at the bank laughing and it remains in the future for some time barring some regulatory changes that could disrupt the flow. stuart: where else do you go? your put money in bonds and get 1/2%. into gold you have a problem
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with that but maybe you can do that coin. where do you go other than the stock market? >> even folks with a balanced equation in terms of 64 mix or 80-20 mix, the bond portfolio is increasingly at risk because it will arise at some point. at some point they will start rising. all the bondholders with these low yields will suffer capital losses when rates start to rise, that is a problem with equities. stuart: there is always real estate chart. a lot of people will be taking their money out of stocks and putting it into real estate and it is happening right now. you have been right before and i hope you're right again. tech stocks in focus in this focus has to do with the president and that section 230. susan will claim. >> donald trump threatened to
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veto the national defense authorization act, $40 billion, unless the law protecting social media companies is not repealed, donald trump writing section 230 protect the life of facebook and twitter from being liable for what users posted, dangerous and unfair. republican represent the president used facebook and twitter seeing a bias against conservative voices limiting and blocking sharing of the hunter biden story, targeting gop members labeled, fact checked a lot more often than democratic politicians. most people if you look at the price the stock price they don't expect the threat to actually work. you need a democrat controlled congress to approve it and that is not likely to happen. stuart: jetblue, significantly 7.8%. why is that? >> offering the stock at a
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discount, pretty much 7% down at the close of trading yesterday. stuart: got that. overall we see the futures market pointing south, plenty of red, not a huge selloff that we are down this wednesday morning. joe biden did not take a single question after announcing his economic team tuesday, but one reporter did find a chance to ask this very hard-hitting question right before the event. you've got to watch this. >> mister president, how does your foot feel? how is your foot? >> good. stuart: there is a penetrating question. could be a preview of the media in a biden presidency. my next guest says trillion dollar stimulus too much because some states looking for a bailout.
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year and if you look at refinances, spiking 102% from last year. this is what the mortgage bankers association said, quote, despite extremely tight inventory and rising prices home sales are running at their strongest case in over a decade. low rates, emotional incentives, and purchasing power because home prices have gone up so much the nba says the average size of a loan is 75,$000. stuart: this market, as far as i have seen its in a long time. his company issued the latest forecasts, the stock market on the s&p.
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>> we have one vaccine, probably multiple vaccines will roll out, looks to me like the odds favor a divided government. the republicans maintain control of the senate. earnings, 80% of companies beat earnings, everyone is more productive, using technology because of the pandemic more than we ever have and the fit is superloose, we have a forecast next year 4200 for the s&p 500 by year end and 35,000 on the dow, a 15% gain from where we are today. stuart: the only thing that could truly upset that that you could see would be democrats winning both senate seats in
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georgia. that is the big problem if it were to occur. >> i agree with that. divided government sits well with the markets and the electorate in the past election was saying we don't know who is causing these fights but we can stop the fights against donald trump. we don't want to programs, don't want to pack the supreme court don't want the green new deal, don't want medicare for all, don't want a big tax hike. we have changes in regulation, small changes in taxes, more spending, infrastructure in the stimulus bill but without major changes that clears the air for stocks in 2021.
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stuart: what about the big states that are running gigantic deficits. in illinois in particular, they need a bailout. many people yourself included do not want to bail them out but if we don't bail out those major states they are going into chronic recession which affects everybody. what do you say? >> i understand what you are saying. there are two kinds of bail outs we are talking about. one is the original $3 trillion heroes act, they were well in excess of the loss in revenues for shutting down. this new bill that we had from the bipartisan senators that came out yesterday wants to give the states $160 billion, lost $170 billion in taxes.
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i don't like big increases in government spending but if you are going to shutdown the economy we have to spend children's and grandchildren's money. that is the choice we are making today but one point i would make about this is states are supposed to prepare for recessions, supposed to have a rainy day fund and some states did and if we bailout states that were badly managed and didn't have a rainy day fund. and that is unfair. stuart: i see your point, a 15% gain for the stock market is the headline of the day. thank you so much, see you again soon. news from walmart. they are changing their shipping minimum. ashley: starting friday, no
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more ordering a $35 minimum for free shipping, even with one item in your basket, you get two day shipping, convince customers to sign up and better compete with amazon prime. walmart plus just launched in mid-september, $98 per year, amazon prime is at $119 a year. they are trying to leverage 90% in the us population, has a long way to go with the membership numbers of amazon prime which are well in excess of $150 billion worldwide. stuart: global audiences, really something. the 10 year treasury yield, 0.93%, the price of oil this
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morning is $44 a barrel in the price of gold has been coming down lately at $18.20 per ounce. look at the coin, 19,$020 and susan has news on it. >> we have resistance close to 20,000 levels and that is what technical analysts are talking about, 19,057, the reason this time is different is the debate in the market why this time is different from 3 years ago, last time we saw a record for bit coin, more active losers, 4000 accounts are trading bit coin. that's a lot more than a few years ago so this time might be more sustainable real. stuart: can use a 400,000 people around the world own a bit coin? >> trading bit coin but more adoption where you can do it freely on paypal and robin hood
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and square so more active participation which is a labor -- stuart: 19,00345. we will take that. if you check the overall market you will get red ink this morning, not a huge decline but right across the board. we will be back after this. ♪ make no mistake ♪ ♪ my student loan debt. (chime) choosing sofi was literally one of the best decisions i could have ever made because it gave me peace of mind. ♪ before discovering nexium 24hr to treat her frequent heartburn, marie could only imagine enjoying freshly squeezed orange juice. now no fruit is forbidden. nexium 24hr stops acid before it starts for all-day, all-night protection. can you imagine 24 hours without heartburn? verizon 5g is next level.e 5g america's been waiting for. for all-day, all-night protection. unlimited plans fit everyone in your family starting at just $35, with 5g included at no extra cost.
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when we received excellent vaccine news that the brits have said okay to the pfizer vaccine and will start in occupations next week. i thought that news might have a better impact on our stock market but no. we are looking at a modest decline, 130 points down, 60 for the nasdaq and 12 for the s&p. not a massive selloff but a downside move despite the vaccine news. mark tepper is looking at reopening stocks, delta and nordstrom. start with delta, reopening stocks since when? >> since recently. i will never get in at the
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exact bottom. don't have the courage to do that. i need to see things that started rebounding. i don't know what it is like in new york. we just got hammered by 20 inches of snow in cleveland. i'm dying to get out of here and other people are too. there is a lot of pent-up travel demand, i bought delta a few weeks ago, the best airline to own, they have the best maintenance team to extend the useful life of their aircraft so they are more profitable and have partnership with american express which is the gold standard in rewards programs, money straight to the bottom line so i like delta. stuart: i am in especially if you have 20 inches of snow in cleveland. how about nordstrom, what is good about nordstrom, they are department store? >> i'm not a big fan of brick and mortar retailers at all as you know, mall traffic has been on the decline for decades but
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i bought a bit of nordstrom. i think they have a huge competitive advantage over stores like macy's, they have a digital presence that has been strong for years, free shipping, free returns and that gives them an edge, the best customer experience in the industry, they hand it to you, they can't do that anymore. too much square footage. they rolled out nordstrom local stores. and they serve your cocktail or cup of coffee or ipad, more money for them. >> that is guaranteed. i had a carpet in new delhi.
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that didn't go down well, this was 50 years ago. thank you very much, i will be checking delta and nordstrom. >> i bet you paid a lot for that rug. stuart: taken to the cleaners because of the drink at 10:00 in the morning. the bell has begun to ring. it is about to stop ringing and we will start trading. right from the start down 160 and plenty of red ink, the vast majority of the dow 30 in the red, at half a percentage point for the dow is how we open. the s&p 500 somewhat similar on the downside, not a huge loss, down a quarter a 12:45%. the nasdaq composite, this will tell you the nasdaq is down 0.58%. no one is doing that badly either. the dow is down 6.6%.
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salesforce buying slack, a record deal, a very big deal, susan will give us the price and the significance. >> $27 billion, $45 apiece, a rich premium on 50% more than last tuesday because when news of the talks broke it was mostly targeted at competing with microsoft and similar slack product like microsoft teams, jumping 50% to 150 million last month. they have been lagging to grow it uses and losing microsoft, they need to get bigger, get more money and for salesforce, a way to add muscle in this remote work trend which they think will continue after covid is done, and increase these forecasts, the full year is pretty impressive, select from it is losing money. investors have questions if you
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look up stock movement, you have price targets cut for the likes of berkeley, raymond james, $280. >> that drop for salesforce down 8% takes 120 points, down 190, salesforce account for 120. >> important to hear what microsoft says about this deal, i know you are watching, the shareholders meeting, see what they say about this. stuart: i didn't know they had a meeting. another virus antibody tests get emergency use authorizing for the fda. >> it is from roche, the anybody blood test, they sent a sample to a lab generating results in 18 minutes. you can identify recovered kayleigh mcenany were patients for current treatments, you have treatments, vaccines
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coming and the sheer number of people that give you a layer of immunity. we could be turning the corner in 2021. stuart: i will show you modern, vaccine stock, down 6%. tell us why. >> look like merck is unloading moderna stock, they got them early, $50 million into moderna, it is under $20, we had a peak at $178 the last two days, they made a sizable profit, moderna ceo anticipates emergency approval, 24 to 72 hours on the back of that, fda advisory committee meeting according to what the seeing,
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and investor meeting, that is positive for moderna stock. stuart: that is just coming out. you might see some reaction in the next couple minutes. >> just the unloading coming from merck. stuart: they would take a lot of money out of that. thank you. show me disney on the downside ever so slightly. >> $25 from here. they are bullish on streaming, they see a measured recovery in disney's core business, they see value all around boosted by the fact the we returned to normal the middle of next year. stuart: and individual stock is
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micron technology, price target hikes as well. >> a high of $85 from jpmorgan, from these current levels, boise idaho-based chipmaker, they make flash memories, they look at microns, they make more money than anticipated this year and the laptop during these covid lockdowns as they work from home, they are buying more of these devices and computers and yet micron makes a chip that goes inside. stuart: look at that, price target, old-school can be good. >> a comeback revival. stuart: someone has to tell me about morgan stanley downgraded them and the stock is falling back.
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>> from morgan stanley, a cell call, they had -- morgan stanley says it is a $17 star, not a $30 stock after it spiked to those levels, 55%, the debut a few months ago and that is too expensive, too many questions for future business if they keep growing with high levels in stock and questioned over how many more new customers it can add. a limited number of government in the world and that is usually what they do. stuart: they are a data mining company of extraordinary proportions. then we have workhorse. i think they are down sharply, no. flat. what is the news on them. ashley: they were down, now it is flat. it is the news the u.s. postal
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service is delaying its contract decision on replacement vehicle leaving workhorse's bid to make electric vehicles in limbo. the u.s. postal service says he needs more time to decide what firm or firms will supply the vehicles that will replace those delivery trucks that we all know. it is a big contract, $6 billion for 180,000 vehicles. workhorse is the only contract that are offering an all electric option, they have delayed this decision many times already. a final answer may come next year. workhorse is one of three finalists, down 23%. stuart: now it is down 23%, workhorse, $19. still ahead this hour, this program, hhs secretary alex azar, a lot of vaccine news to go out with him, the brits approved pfizer after virus vaccine but our fda isn't meeting until the summer tends to consider approval.
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why the weight? i will ask him. joe biden announcing his economic team and raising a few red flags. 's budget chief just deleted over 1000 tweets including many that slammed republicans and even michelle obama. more on that for you. ♪ we made usaa insurance for veterans like martin. when a hailstorm hit, he needed his insurance to get it done right, right away. usaa. what you're made of, we're made for. usaa
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information and collaborate, lacking distribution, and that is what they are up against, need a partner to help them grow, and when they integrate things and bring things to get the customers listen and a double, triple sales on the enterprise side and a high valuation. stuart: that upset the market because the salesforce down 3%. the market doesn't believe they can compete very well with microsoft. >> reporter: microsoft is giving teams away for free in the acquisition. teams -- the blue the bring the microsoft product back together. sales forces wanting to do the
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same thing with slack bringing the collaboration of the component, there is a battle for that collaboration and ai and he's trying to get the $50 billion and double a company, the next two moves you are watching from a lot of enterprise software company, how to get the automation at artificial intelligence and that is driving that enterprise software market. stuart: susan is looking at salesforce, $217 a share. we will move on. looking at tesla which is down 6.7% but you have a target on tesla, you expect to reach $650. make your case. >> they are doing a couple things, securing battery suppliers and gotten capacity close to 880,000 cars to deliver and they may hit the 500,000 number this year, 34% year-over-year on the last quarter and execution has gotten good, the demand is
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coming because all states are lining up because you need electric cars by a certain date especially california and you will see more of those mandates and it has been pretty bad for the rest of the competitors even in china, tesla is still the brand to beat. before everybody catches up and will they be with to license their tesla battery platform to other, in toyota. it is not just the car business it is about electrification and the policy coming five to ten years. stuart: one of these days he will come on this program, and they have been waiting five years. stuart: new jersey says all schools should consider going
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remote, they stay open. listen to what florida's governor ron desantis says about that. >> closing schools due to coronavirus is probably the biggest public health blunder in modern american history. stuart: what a contrast in messaging from a republican state, florida, democrats state new jersey, i will ask alex azar what he thinks of school closures in virtual classrooms. he is on the show next. ♪ over by the courthouse ♪ starting to unwind ♪ on the corner ♪ e so you only pay for what you need? really? i didn't-- aah! ok. i'm on vibrate. aaah! only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪
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stuart: as you look at the vaccine makers on your screen let's bring in alex azar for his first interview this morning. i will throw this at you. the brits, as you know, approved pfizer's vaccine but the fda's waiting until mid december to hold a meeting on approval on the pfizer vaccine. why the delay?
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>> the british approval is great news in the sense that for the american people this should be very reassuring, independent regulatory authority in another country found this vaccine to be safe and effective and we are going to let the fda run through its process, they have detailed approach, they look under the hood, look at all the data to make sure it proves to be as good as it appears and we will have that meeting of the advisory committee to somerton that hopefully within days after that we will have approval here and we should have 6 million doses releasable by that point. we make more every day. stuart: other vaccines coming on stream as well as pfizer and moderna but it what point will everybody have been vaccinated or sufficient number, 70%, crowd immunity, what is the timeline? >> our projections are by the second quarter of next year we have enough vaccine for everyone in america who wants
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to get vaccinated. that would be the results you are talking about. every week more people will get vaccinated and we have other vaccine candidates thanks to donald trump's operation warp speed, astrazeneca, janssen, other product we hope will come online and add more supplies as we go on a weekly basis. stuart: the cdc is talking about changing the quarantine period from 14 days now to 7 to 10 days. what is your recommendation? >> we are trying to look at the science and the data of what we are seeing with this disease and learn from it as what the cdc is going to do is put out revised guidance that recommend if you had close contact with somebody instead of 14 days moved to 7 days if you get a negative test on day 5, 6 or 7 and 10 days if you haven't had a negative test. we are trying to learn and
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ensure people go about their lives with do so in a way that is safe. stuart: i want to ask about opening schools, we made a big thing about it on this program. i think schools should be open. how about you? >> you are right. i look at other countries experiences, the europeans are extremely conservative and conscious and very interventionist. they've made keeping k-12 schools open the first and primary national priority even as france locks down the paris area their kids are going to school because they see significant physical and mental health harms and they see what we see, schools being open is not a major victory of disease transmission. it is not science-based. it is not evidence-based to close our k-12 schools. stuart: governor desantis of florida says the closing of schools earlier this year on a national basis was one of the worst things done ever. do you agree with that?
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should schools ever have been shut? >> it is in so important to remember we never called for schools to be closed. these were independent determinations that snowballed from community to community and especially now that we see the evidence schools should not be closed except in exceptional circumstances. stuart: there are states in america still talking about total statewide shutdown still on the table. what do you think about that? >> it is not evidence-based. we can do these things the right way if we wash our hands, watch our distance, where faced differences, go about our lives. what do we see? being back in the workplace not a major victory of disease transmission. being back at university or care-12 school not a major vector of disease transmission. being on an airplane not a major vector of disease transmission.
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it is our informal gatherings, indoor crowded settings like overcrowded bars, indoor restaurants, these are the things we focus on because the american people will do what is right and what is recommended as long as it is based on science and evidence but not of it is a hysterical overblown approach but over interferes with our ability to get on with our lives. stuart: open up the economy and save lives that way. it is a pleasure having you on the show, thank you for being with us. what have we got? susan? >> looking at the markets. we came off of a great november, better start to december. stuart: i just finished the interview with alex azar and get this word in my ear that says susan! i don't know what that means but i said go to susan. you don't have anything to say, the time is up. here is what is coming up. will kane, kyra and center, tim
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scott and tim teboww. how about that for the second hour of "varney and company". ♪ we got to move it honey ♪ ♪ ♪ all right ♪ all right ♪ all right ♪ what you can do ♪ it's still warm. ♪ thanks, alice says hi. for some of us, our daily journey is a short one. . . you've never been in better hands. allstate. click or call for a quote today. less sick days!
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♪. stuart: it is almostp 10:00. in about fifteen seconds it will be precisely 10:00 eastern time. the market heading south but it is not a huge selloff by any means. the dow is only down 80 by now and most of that is accounted for by the big drop in salesforce. get to that in a second. the big news in vaccines comes from britain, they have approved the pfizer-buy own -- biontech vaccine. they made enough for 20 million people to be inoculated. those aged 80 and above get vaccine first. that is how they are organizing it. they were first. big show coming up. >> john lonski, apple group ceo and north carolina congressman mark walker and kiron skinner. in the 11:00 hour, tennessee senator marsha blackburn, former chair of the california republican party, tom del
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baccaro and tim tebow. we have all that for you. now this. if there is one thing i love about america, it is not europe. i like the get up and go atmosphere over here. it is exciting, it is dynamic, i hope it stays that way but keeping that dynamism will be a challenge. the biden economic team has me very worried. they will try to make just like europe. incoming treasury second tear janet yellen for example, will be happy to raise taxes on individuals and businesses and she will push for a bailout of badly-managed states, illinois, new york, et cetera. they already look and feel like europe, don't they? at the treasury it will be a return to tax-and-spend with a new twist, a bailout from the feds when states are up against the financial wall. at the council of economic advise, uh-oh nominee jared bernstein wants americans to be cared for cradle to grave. you know what that means, nanny
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state government from the moment you're born, tote moment you die make beyond, just like europe. bierne stone told "the washington post" he wants a comprehensive system of social insurance, government health care, government education, government food aid, all government all the time, just like the obama-biden years, just like europe. i hope we don't go there. america really is an exciting, innovating place. i hope it stays this way. i guess a lot depends on georgia. if the two senate seats up for grabs on january the 5th go to the democrats you can say good-bye to dynamic america around say hello all the joys of boring, unsustainable, museum-like europe. th is the second hour of "varney & company". ♪. stuart: he is smiling already.
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john lonski, moody's analytics chief markets economist. all right, how do you think that the biden economic team shapes up? do you think they will make it just like europe? >> i hope not and i think the average american is going to agree with me. let's look at the hard numbers. last five years, five years ended 2019 the average unemployment rate in the united states was 4.4%. the after ran unemployment rate in the eurozone was 9.2%. that compares is reason enough to believe that the average american wants nothing to do with a europeanization of the u.s. economy. stuart: i'm glad to hear it and i hope we you all feel like that. let's talk about the jobs market here this week. we had the adp report, 307,000 new private sector jobs today. that was on the very low side i
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would say. we're getting more jobs numbers later this week. it seems like the jobs market is not so strong and that it is showing down, along with the overall economy, would you pay agree with that? >> i would have to agree with your interpretation of employment. perhaps the overall economy is slowing down. we're not going to have as strong of a holiday shopping season as we did last year. that is mostly because of covid-19 restrictions. on the employment number, let's not forget that in the month of october the adp private sector employment report had payrolls growing by, roughly 400,000 jobs for the private sector however the bureau of labor statistics for the u.s. government had private sector payrolls growing by 900,000. we'll see a drop in the creation of private sector jobs in november from 900,000 to perhaps
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half a million but that is nothing to sneeze at. we still have growth. as long as we have growth, i think that the prospects for the future are still pretty darn good. consensus still believes that even with research in covid-19, real gdp in 2021 will grow by roughly 4%. stuart: that's a very strong number. if you get a 4% growth rate in 2021, that's a strong as we've had an economy performing in several years i think, am i right? >> would be the best year since the year 2000. we had a stretch of about four years at the end of the 1990s where real gdp growth averaged something just in excess of 4% but remember, a lot of this growth is simply represents a rebound from the very low base of covid, of 2020. stuart: we'll bear that in mind.
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4% growth for the economy, 2021. john lonski, thanks very much indeed. see you later. >> bye. stuart: now this, top white house economics guy, larry kudlow says christmas may be tough because of the virus. here is what he had to say on mornings with maria earlier today. roll tape. >> at vice president pence's covid task force meeting yesterday our experts warned that the christmas season could be tough. there may be more spikes in covid. help is on the way. the vaccines are hit rally a week or two on the way. and they're going to be distributed. >> unbelievable. >> that is a fabulous story. help is on the way. stuart: it is a great story. help real fast, you have got to say that the gentleman on the right-hand side of your screen, will cain, "fox & friends weekend" co-host, a favorite guest of ours on "varney & company." i got to tell you, will, i think the authorities will have a very hard time clamping down,
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restricting our christmas, holiday celebrations. i see defiance pretty strong here. what say you? >> you know, stuart i really liked your opening monologue. what you like about america it is not europe and you attribute that to dynamism as opposed to stale stags nation in europe. i would push it further. that dynamism is built on rugged individualism. we're not rule followers, risk-averse. americans at their core are risk-takers, entrepreneurs, pioneers that pushed west. what i'm saying we will make our individual decisions when it comes to the economy or comes to coronavirus restrictions. let me be clear, stuart. we're not stupid, either. we're not impractical. we'll make sensible decisions about what our risks and our family's risks are. what that means, when we look around the country, we see the mayor of san francisco, the mayor of los angeles, the mayor of denver, the mayor of chicago, the governor of california all making arbitrary rules they themselves do not follow we
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won't be sheep. we simply will not give up our christmases, thanksgiving, family traditions without imposing our own rationality and practicality on it. we will not be simple sheep rule followers. we will be smart. stuart: will cain, you are a fine american. i've got this one for you as well, 1300 students at columbia are threatening to withhold tuition payments because they say the cost is too high when all they're getting is remote learning. what do you say to that? >> i think college is largely a racket that overpriced with or without learning. stuart: i like this guy. well-said, young man. >> you and i both know it is largely an indoctrination factory that squashes any sense of disagreement, much less debate. consistently outpaces cost of inflation, price of inflation. it is an absolute extortion mechanism i constantly have my debate with my wife about are we pony being up this scam when our
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kids are college age. you need the diploma to get the jobs. when it comes specifically to your question about whether or not you should be paying the same price for remote learning hell no you shouldn't. they're saving cost, why shouldn't you as well as a student? stuart: i knew i liked you will cain. you better not be a stranger on this show. come again soon, will. >> always a yes when you ask. stuart: you got it, man, thank you very much indeed. i will sort out a couple of individual stocks i want to talk about. start with salesforce, they will pay $27 billion for slack. salesforce is down 8.6%, slack is down 2.6%. a lot of people think salesforce maybe over paid. look at zoom, no, it bounced. it dropped earlier today below 400 bucks a share. now it bounced back. it is up 3 1/2%. susan: lost 16% yesterday too. stuart: forget that, you're right. it was over 500.
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susan: yeah. stuart: minor bounce this morning. hewlett-packard, the latest tech company to leave silicon sally. let me guess, where could they possibly be going, susan? susan: texas, yeah. they're setting business needs. hewlett-packard says as we look to the future, business needs, opportunities for cost savings and team members preferences about the future of work made the decision to relocate hpe's headquarters to a new campus under construction springs, texas, outside of houston. human factors is one of the reason that silicon valley became america's tech hub. stuart: there you go. susan: silicon valley you think of companies like hewlett-packard and intel. after a really tough year, they're still losing money. hpe needs to save it. they're saving on taxes, cheaper real estate going over to texas. important to note there are no layoffs in this move. they will add several hundred non-technical jobs to the new texas campus. but the move won't happen until
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the year 2022. hpe the latest to move to texas. hewlett-packard choosing austin for gigafactor. and also avoiding new jersey taxes. stuart: it is exodus away from high-taxed badly-run states, get out and run. why not? okay. don't get me started. treasury secretary steve mnuchin, he made comments about the stimulus, just made those comments i think. susan: right, also the fact this is capping some of the losses that we're seeing on wall street as well. so looks like he says if president trump is ready to sign the stimulus proposal made by mitch mcconnell yesterday. that is a smaller package than the 900 billion bibart sawn bill being pushed through senate politicians but we're still talking about 300 billion already in the bank to the first cares act round. stuart: that is not new spending. susan: no. stuart: mnuchin says the president would sign that. get it out there. susan: got it out there.
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stuart: you're right. the dow is down 70. it had been down, what is it, about 150. susan: at least, yes. stuart: susan, thank you, the married of san jose, california, busted for ignoring vie are you restrictions. why are so many lawmakers so bad at following their own rules? well we do have that story for you. also coming up senator rick scott he likes the idea of president trump running again in 2024. watch this. >> it is great if he wants to run in 24. we'll have four years looks of joe biden where he will raise taxes. he will ruin this economy. stuart: gee, i thought rick scott wanted to run for the presidency in 2024? i will maybe ask him about that when he is on the show in the next hour. we'll be right back. ♪ at aetna, we take a total,
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now it's your turn to lose weight quickly and easily with golo. head to golo.com now. that's g-o-l-o.com. ♪. stuart: where are we now? 45 minutes into this trading session we're still down but only 58 points at the dow industrials and by the way we've got, what is it? what is the name? susan: shopify? amazon? steve mnuchin, stimulus? stuart: was it -- susan: talking about stimulus and steve mnuchin? stuart: no is one dow stock sharply lower. susan: salesforce. stuart: don't ever get old, susan. susan: is this charade. stuart: it really is. salesforce is way down, taking 100 points off the dow. if it wasn't for salesforce the dow would be up. that is what i'm trying to say. here we go. uber complete ad near
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3 billion-dollar purchase of postmates, that is a food delivery service. that stock is up 50 bucks a share on uber as of now. now about walmart dropping the 35-dollar minimum shipping foe for walmart plus members. that starting friday. they're competing with amazon. the stock is down 1%. 151 on walmart. the survey says, i don't believe this, 87 million of us already started stockpiling ahead after potential winter wave of the virus. i don't know where they get these numbers from. come on in please. john catsimatidis, you run successful supermarkets. why are people stockpiling? >> well you know, maybe fear has been driving the bus, whether it is fear about covid. whether it is fear about getting mugged in the streets because in new york things have not been great. you know we put all the criminals back on the streets
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instead of in jails because of the new so-called progressive laws which, i don't call them progressive. i call them regressive laws taking our city and our country backwards. so fear is driving the bus and that is what is contributing to new york not doing as well as it should be, not doing as well as the rest of the country is doing. stuart: got it. hold on for a second, john, i want to talk about the schools reopening. i want you to listen to what health and how many services secretary alex azar just told me moments ago. >> schools being open not a major vector of disease transmission. it is not science based, not evidence-based to close our k-12 schools. stuart: here is what i want to tell you about, john, you have grocery storefront line workers see hundreds of people every day, but teachers cannot stand
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in front of 20 or 30 kids? get out of here. i think they should reopen now. what say you? >> i agree with you 110%. the kids are not getting educated. they're going to fall a year behind in life. and the teachers, at least, let's have all teachers that are 55 and undergo to work. i mean, if the teachers are 55 and above and in bad health, i can understand that, let them teach certain kids through computers but as far as 355 and under and children, the children almost have a zero rate of having a problem. stuart: are you going to run for mayor of new york city? >> well i'm being urged to do so and we, really i haven't really decided. i'm teaching my kids how to run our companies and, i worry more about our companies and our employees than i do about myself but i care about our city.
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i love our city and this city has to make a comeback by november of 21. otherwise we're in deep, deep, deep, trouble. stuart: you don't think -- i mean you say november of 2021. do you think we'll be back anything like normal in new york city one year from now? >> if the vaccine works and it is going to work, there are three different vaccines now, yes. if we got the police back to work, in other words, new laws in new york city, new york state, we are handcuffing the police instead of handcuffing the criminals. people have to feel safe walking around. so that is the other factor. people have to feel safe being in subways. that is the other factor. and, the two big factors are, the vaccine being distributed to our population, and people feeling safe in our streets.
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stuart: confidence, yeah. >> we can make a comeback 48 hours after that happens. stuart: i would love to see it. john catsimatidis. thank you very much for joining us. see you again soon. yes, sir. now this, the ceo of moulson coors says the pandemic may have changed the bar scene for good. lauren, he says drinking at bars may never recover. tell me more. lauren: yeah. because we've changed during the pandemic how we drink and where we drink and we're drinking more at home, right? it used to be the bulk of the revenue for the alcohol companies came from the on-site locations. whether it were a bar or stadium. but those are either closed or saddled with restrictions or we're too nervous to go to them. we're ink drinking at home. that ceo doesn't expect that to 100% recover maybe forever. when we do freely go back to a bar there is going to be fewer tap options and the reason for
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that we gravitated to some bigger well-known brands in the meantime. so i mean, i guess this means put your money into tinder, right? if you can't drink freely at a bar sometime, if ever, we'll be dating online and on the phones. stuart: lauren, killing me. you're going off campus here. thank you very much, lauren. that was very interesting report there. >> anytime. stuart: speculation. thank you, lauren. shake shack, i am told they're making big changes because of the pandemic. what are they doing, ash? ashley: all sorts of things, stu. this is because of the pandemic. forcing all restaurants of shake shack to rethink the approach and making some changes permanent. drive-up, walk-up windows reserved for pickup of digital orders. that is one of the big changes as well as curbside pickup. all of these, shake shack says will become full-time features. plus more of the restaurants new hoecations for shake shack will
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be in the suburbs. it is interesting, it is been more of a suburban brand. no, they're going to suburbs outside of the cities. the company also boosting its digital presence, adding more capabilities to its mobile app. the company is also planning to add as many as 40 new restaurants next year. many of which will feature all of these new designs. revenue is off 17% through the first nine months of this year. but guess what? the stock is up 34% for the year which shows that investors like what shake shack is saying. stuart: that is amazing. everything is changed. everything really has. thanks, ashe. airbnb, doordash. they have given us price ranges for their upcoming ipo. deal with these separately. first of all, airbnb. susan: airbnb stock, $40 to $50 apiece. reaching 2.6 billion, which will
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likely value the company at 30 to $35 billion. remember that is almost twice as much as they raised emergency cash at at the height of covid where they valued themselves in march at just 18 billion but the big selling point for airbnb, a rare, rare uncorn is actually making money. growth is stalling and has been hurt by covid. stuart: that is airbnb. i'm interested. susan: you are. stuart: i'm thinking. how about doordash? susan: doordash pricing itself between 75 to $85 a piece. that is pretty pricey when you look at the top end of the price range because that values doordash at $32 billion, again almost double the value that doordash was raising cash at in the private round. that was just a few months ago. but doordash, unlike airbnb still has pretty high growth rates. they're not making money which is the point. this year has been phenomenal when it comes to ipos. you're looking at the best year for ipo raises, $152 billion, since the dot-com bubble burst.
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stuart: 2020 has been an extraordinary year, good lord. we had tiki barber on the show yesterday. i did ask him what he would like to ask fellow nfl star tim tebow. here is what tiki said. well, we don't have it but i know exactly what he said. he said he would like to ask tim tebow if he was going to play for the mets? that is what he asked. susan: with new ownership. stuart: with new ownership. tim tebow is on the show. that is exactly what i will ask him amongst other things. north carolina congressman mark walker, announced his run for the senate, two years. are we starting the next election cycle already? he is on the show, i will certainly ask him. he is next by the way. ♪. before nexium 24hr,
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more people will get vaccinated. we have other vaccine candidates thanks to president trump's "operation warp speed." astrazeneca, janssen, other products we hope will come online to add even more supplies. stuart: you heard it direct from alex azar, the vaccine is on its way and we consider that to be very good news. as for the market we have a minor loss for the dow industrials right now. a mere 33 points now. down four on the s&p, down 4 on the nasdaq. this market is recovering, not responding much to the vaccine news but recovering much from the lows earlier this morning. we'll show you some travel stocks and casino stocks and how are they reacting to the latest vaccine news. look at royal caribbean, $78 per share, expedia, 127. jetblue is down. they're issuing new stock by the way. how about casino stocks? they usually move when you got good vaccine news and we got that today. the casino stocks are up, not a
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huge gain but i see wynn is up 1%. mgm up 1%, and las vegas sands of a gain of almost 1%. it is 10:31, that means we have the latest news on oil inventories. what is the number, ashley? ashley: we are, we're seeing a drawdown of 679,000 barrels, a lot less of a drawdown. we were expecting 2.3 million barrels drawdown. in other words there is more oil in supply than expected. also this is a market that is really waiting on opec and its allies to decide whether or not they are indeed going to increase production in january. so a little bit in limbo right now. but the oil price, there is downward pressure on it recently. the fact we didn't draw down much as expected, demand may not be there. maybe a result of the lockdown and slowdown in the economy because of spread of the virus. hopes of a vaccine which would
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be very positive of course for oil as demand goes up. stuart: just so long as i can buy gasoline for two dollars a gallon, ashley. i can and i am a happy guy. there you go. thanks, ash. ashley: good. stuart: elon musk says tesla is open to a merger. what is this? is he looking for another headline? susan: you always have to take what he says with a grain of salt, however, remember that elon musk and tesla are in a much different position this year. now the world's biggest carmaker as you know by market cap worth over half a trillion dollars, given its size, tesla and musk now in acquirer possibly, not being acquired by other companies. so gm, compare it to tesla, gm is worth 10 times less at $64 billion whereas tesla is $500 billion. interesting in the past toyota and daimler used to have stakes in tesla. they sold them off in recent years. i think things have changed. we know musk is in germany. made a trip to germany in the
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last 24, 48 hours to visit his next gigafactory to open next year. my, how things have changed. stuart: yeah. susan: this month, it is december, he will join the s&p 500 for the very first time. stuart: i didn't realize the company is worth half a trillion dollars. that gives you enormous leverage to buy somebody. susan: buy somebody. being acquired yourself. stuart: huge difference. >> yes. stuart: tell you what. look who is here? mark walker, congressman from north carolina and mark just announced that he is running for the senate two years from now. you know, aren't we starting the next election cycle just a little early here, mark? >> i don't think so. not at all. we're actually looking at a senate primary that is 15 months away. then you add two reasons more. north carolina will be the most expensive race in u.s. history i've been told, and, chuck schumer is already chosen his guy here in north carolina. so for all means, when you have got the battle of the balance of
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power, whether it is chuck schumer or mitch mcconnell in charge of the senate, i think it is important to get in early. stuart: so how do you think the biden administration is going to go here? they have announced what i would call a fairly moderate team. what would you say? >> well who is making decisions over there? if it is joe biden some would make a calls he would lead more moderate although lately he refuted all the former positions he used to hold. but you have to look at this, stuart, who will be pulling the strings in this. in the house side i can tell you legislation doesn't come off the democratic side of the floor unless aoc signs off. will that go all the way to the white house? we think it will. that's why it is very important right now, that you have strong conservatives. nobody in the house has a better record of a strong conservative but also has the ability to build bridges. that's our brand. i think it is very important for 21st century republicans to hold the conservative line but
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also have skillset, talent, history to be able to take the american dream, that message of individual opportunity, to all of our communities. stuart: do you think president trump will run again in 2024? do you welcome another run from president trump in 2024? >> i don't know what his long-term plans are but as far as welcoming it, if you're looking at something just based on the track record of how he has handled everything economically, foreign policy, opportunity zones, unemployment specifically in our minority communities, if he runs off the track record i would say he is very well-positioned to do so in 2024. ultimately that is his decision. stuart: you must love politics to get into the senate race so early, congressman but we thank you very much coming on the show telling us all about it. congressman mark walker, republican north carolina. appreciate it. >> thank you. stuart: yes, sir. senator rick scott is one of the one million people who have gotten the virus in florida. does he think the state needs to impose some restrictions? i will ask him because he is on
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stuart: china has brutally suppressed hong kong's democracy movement. joshua wong, he is only 24 years old, just sentenced to 13 months in prison. agnes chow, 10 months in prison. they had been leaders of the movement that poured millions of people on to hong kong streets. those two were charged under hong kong's new security law which crushed dissent and broke hong kong's autonomy. this is the china the incoming biden team will have to deal with. let's bring in kiron skinner. kiron, you know a lot of people on biden's foreign policy team. how do you think he will handle this write tall china? >> it will be difficult given the collection of people that biden is putting together. many of them are you know, deep experts in foreign policy and national security and most of them have worked on china whether it is on the african
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continent or competing in the middle east one way or another, but, he is also being pulled by the progressive wing of the democratic party and it want as china policy and a foreign policy that i think is at odds with the centrist he is actually appointing and i think that conundrum is going to make it difficult to have a robust china policy right away and also many of the centrists who will be in leadership at the state department and various cabinet agencies have been known to be somewhat of accommodationists when it comes to china. remember biden has been in washington nearly 50 years and he doesn't have a record of being particularly forward leaning on china in terms of its human rights abuses, in terms of
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its military expansion t will are be difficult unless he has pa team assembled for him to be quote, quote, china hard-liner or hawk which we actually need and which president trump was emerging as in the united states. you can say what you like about donald trump but he in fact was the one that led to a consensus in washington that china greater threat than many have thought. that is no small achievement and i don't know that biden will bring that same kind of energy to hold that consensus together. stuart: i personally am involved in this in some respects because i used to live in hong kong, loved it. i got my start in the media in hong kong and i have a daughter adopted, from hong kong. i have a very strong connection there and believe me, kiron, i hate to see that wonderful, vital, dynamic and increasingly
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democratic society of hong kong just getting crushed like this. i'm not sure what the incoming biden team can do about it because they're in a strong position, chinese communist party, but i would like to see a more robust approach to beijing. i tell you we won't get it. biden just told "the new york times" he will not immediately remove tariffs on china. so i guess that is an okay start, would you pay agree with that? >> perhaps it is but i think the administration will be off and running on reversing many of the trump foreign policy accomplishments almost right away and it goes beyond china and tariffs. the abraham accords. stuart: exactly,. >> all these big, historic, transformational accomplishments, kosovo-serbia agreement with ambassador ric
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grenell at the helm. the work that robert o'brien and jared cush they were have done. if these accomplishments are reversed it also plays back into the china dynamic because it says that the united states is fickle and feckless and can't be trusted to go in the direction that millions of americans supported. and that does give me great pause and concern. stuart: got it, kiron, always a pleasure. >> sure thing. stuart: check the markets real fast, down 70 on the dow, down 33 on the nasdaq. a fractional loss for the s&p. show me please, american and united airlines. both are halting the nonstop flights to china because testing for the crews takes too long. how about that. norwegian suspending most of its cruises through march next year.
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nonetheless the stock is up a little. president trump threatened to veto the defense bill. why? susan: president trump writing on twitter he is going to veto the annual defense authorization act worth $740 billion unless the law protecting social media companies, section 230 is repealed. so we have president trump writing on twitter, section 230 which protects the likes of facebook, twitter, being libeled for what the users post is very dangerous. it is also unfair. we know republican members around president have accused facebook and twitter being biased against conservative voices limiting, blocking sharing of of the hunter biden story on new york post, remember? labeling, fact-checking gop members rather than democratic politicians a lot more of the time. most people don't expect this threat to actually work though. if you look at the stock price today because you need approval from the democratic controlled house but it is nice to talk about it. stuart: also interesting that the president take as strong stand on that particular issue.
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susan: not just him. biden talked about repealing section 230 as well. stuart: really? they could be in trouble with that one. california governor newsom could announce another stay at home order as soon as this week. are people going to put up with this? i'm asking tom del baccaro, former chairman of the california republican party. where is the pushback? i want to see it. we'll introduce to you, a national restaurant owner, her restaurant, slashed in half. this person is angry. this person is here. going to complain about it bitterly next. ♪. in a land not so far away, people are saving hundreds
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>> only thing major, that we're fighting right now is the indoor dining ban. it is just a mandate. all other laws, regulations rules, we're abiding by them, we're being safe. what we're asking for is that our local governments help us and agencies, if you're going to slap us with cease and desist orders all this, you might as
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well be the ones who come down to check it out. stuart: really. that was danny presti, owner of mack's public house on long island. authorities arrested him shut down the bar after his interview on this show. a man arrested for trying to keep his bar owner. nashville restaurants, bars, limited to just 50% of capacity. that limit was just imposed all of a sudden. the owner of pegleg porker in nashville is kerrey bingle is with us now. >> stuart, how are you doing today? stuart: i'm okay. i feel badly for you, kerry, i really do. i imagine and understand how you would be mad as hell about this. does this affect the whole mood of nashville and community, this is chill effect here getting out of the house and dining out? >> it really does, stuart.
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we have a large restaurant. so at 50% capacity, we still have room for people to come in and spread out. but i'm the exception to the rule. most restaurants don't have that amount of space and this is a trickle-down effect. when people hear nashville is at 50% capacity. that bars have to be closed at 10:00, instead of coming to my restaurant to eat before they go down to the bar, they will go down to the bar or not come to nashville at all. it is a tragedy that we've been targeted when actually the cases and clusters in the restaurant industry in nashville is less than 2%. we have four clusters in restaurants out of 200 total clusters tracked in middle tennessee. stuart: that makes no sense. can you do anything about this? >> well, i've been very vocal fighting this. i've tried to work with the mayor on top of this. in the middle of this whole tragedy we got a 34% property tax increase.
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so, needless to say our mayor is not listening to me. he doesn't seem to be listening to the restaurant owners around town. we, when they say follow the science ourpoliticians here in noun simply are not following the facts. the facts are restaurants are one of the safest places you can be. we're experts at hygiene, we always have been. we do our best to make sure all of our patrons and employees are safe every day. stuart: carrey before we leave you, i want to ask you about pegleg porkers. what is -- great name. what is your favorite, not your favorite dish but what is your best-selling dish? >> our best-selling dish is our dry ribs. that is our specialty. it is a west tennessee delicacy and that is something that we feed our customers every day. we try to keep it simple and do the best at what we think we do best at. stuart: best of luck to you, carey. hope you open up 100% real soon.
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make some money and sell some pegleg porker stuff. that is great. you're all right. you're a great guy. thanks for coming on the show. >> i appreciate it. have a great day. stuart: got it. still to come on the show tennessee north marsha blackburn, plus the former chair of the california republican party, tom del baccaro, senator from florida, one of them, tim scott and yes, nfl star tim tebow. you will get my take on the ongoing hypocrisy out of california. it is a overflow of hypocrisy there. third hour of "varney" coming up. ♪ (harold) twelve hundred strings of lights.
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by the second quarter of next are we will have enough vaccine for everybody wants to get vaccinated. >> when it comes to economy or coronavirus restrictions, we will not be sheep, we will not give up our christmas. >> 2021 will be a stellar year, 10 - 15% possibly higher. >> wave forecast next year of 4200 for the s&p 500 by year end and 35000 on the dow by year end. >> as long as we have growth, i think the prospects for the
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future are still pretty darn good, even with resurgent tobit 19, real gdp in 2021 is grown by roughly 4% ♪ ♪. stuart: that is interesting that is christmas music, come all ye faithful with the very different rhythm. i like that. it is 11:01 a.m. in new york city and i think you just saw the all-american christmas tree right outside fox news, lovely and lit up. no tickets required to go see it unlike the rockefeller tree one block down the street where he actually have to buy tickets to make a reservation for the lighting tonight.
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let's get to the market, were down 39 - 40 points and we'd come a long way back, all of the loss accounted for by salesforce which is down sharply, s&p is down, were not talking about a big selloff this wednesday morning. now this, late development in the long running story of hypocrisy in california, the mayor of san francisco attended a dinner at the famous french laundry restaurant the day after the infamous dinner attended by governor gavin newsom. now london with seven other people in a partially enclosed room just like newsom. technically not a violation of the time but if she did the same thing of san francisco it would've been. now we find the mayor of san jose attended a thanksgiving dinner. that did violate california's travel rules. the mayor apologizes that he'll try to do better.
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maybe it's the blackout, the crime or the homelessness driving california politicians to distractions, how else do you explain the constant breaking of the rules by the very people who make the rules. on this program we brought you a series of business owners ruined by the rules which so many politicians seem to ignore, how are they supposed to feel about this. on the other side of the country, here in new york we brought you daniel, owner of max public house, he opened his restaurant against the rules, he told us he lost his liquor license and was being find a thousand dollars a day. last night new cerberus reported he was arrested and led away in handcuffs. i sense a mood of defiance, i think that mood is growing, americans do not like kindly on rules that are bankrupting all industries and killing what should be joyful celebrations, especially when the rich and
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powerful violate their own rules. sorry but i cannot resist throwing the sin, a bizarre california happening, early this year the lockdown rules have been issued and alone paddle board or was spotted and chased down by the authorities even when forced the law, i guess some are not so enthusiastic about those rules right now. is it that extraordinary, the third hour of "varney & company" is about to begin. ♪ how about this from fortis governor ron desantis, he is not missing any words about school closures. watch this. >> closing schools to coronavirus is the biggest public health wonder in modern american history that the evidence has been remarkably clear since the spring, closing
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schools offers virtually nothing in terms of virus mitigation but imposes huge cost on our kids, on our parents and on our society. stuart: bravo governor desantis, the governor on the right-hand side is brad blakeman, this is a pressing issue of the day, it's one of the most pressing, they have to reopen the schools are you with me? >> 100%, this is the boston tea party moment in our country, it is about time parent rose up in their local communities and school boards and took their schools back. the largest obligation under real estate taxes is a school tax on average 80 - 90% of the obligation of living in a community and they have been getting away with murder for years. this is the time when teachers have to teach or get out of the
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classroom, teaching is an absolute essential service and our kids need to get back in school, virtual learning does not cut it, we have seen our kids are being hurt, if not her for a year or two years, this is a lifetime of hurt whether in the classroom for academics or sports the rest of the world is going on in america is being left behind. stuart: i think defiance is growing and it sent test on the schools. i think it was parents who pushed the mayor of new york city to get back to opening up elementary schools, you're quite right saying get back in the classroom. let me move on for a second, i want to talk about joe biden's pick for budget chief neera tanden, i am told she has deleted a thousand tweets and several were critical of the republicans she needs to confirm her nomination. you think her nomination will get through the senate? >> that's why georgia is so
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important. we have to control the senate in order to keep the political hacks from serving. that's exactly what she is, she's been george sources funded center for american progress, she's not an academic or an accountant or an economist, she's a political hack, that's what she is. , you want her in control of a $4.8 trillion national budget, she probably doesn't do her own taxes, i certainly would not trust her with mine, the republicans have said if they control the senate she is dead on arrival, she is a sacrificial liam set up by joe biden, i think to the left hoping she goes down because he asked the left what you want, biden says sure, go ahead, hoping that the republicans stay in power to get rid of her, that is joe biden trashing her, if the republicans. stuart: the next time you come back on the program i want to
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know how you really feel, none of the holding back, stop it. thank you very much indeed. see you soon. show me big tech, we gotten out of the habit of showing you big tech, i think we should do that today, we are down not much but we are down, john layfield is with us, i saw cnn headline and it said big tech bubble about to burst? is it about to burst, is in a bubble? >> it is not a bubble so it's not about to burst, this is not the 1990s, we have stock with unrealistic valuation and property valuation but you look at digital which is how you value a lot of the big companies especially facebook, amazon and apple and google, you have 33% with the portion of the beginning of the year is now at 50% of traditional media, your seen a compression of time in
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the big tech tech stocks that's what your seen a lot of the evaluation go significantly higher but what you're seeing right now the market rotation, not a bubble bursting, the one value index was up 13% this past month that the most is been in the history and we have a vaccine for the first time were able to get into the stocks that need the vaccine to survive. stuart: if you were me, and you're sitting on a nice run-up in the stock price of microsoft, you made a handsome profit over the year, stop laughing, you're sitting on a handsome profit, would you sell if you were me, i'm in my early 70s, i don't want to take much risk, i think there might be a big capital gains tax increase next year, if i were to sell this year i could get away with the lower capital gains tax rate, would you sell? >> if you're worried about the capital gains tax, yes i would sell it because it's going to be that much of an increase.
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however, where were you put the money it's like selling your house when you have a real estate market, you have to buy something else unless you're going to spend all that money and because of what the cloud is doing with microsoft, microsoft is incredibly well positioned as the big tech companies right now, the only one i don't like right now is netflix, i just think the evaluation has gotten out of line. stuart: last one for you, president trump said he would sign a mcconnell relief package, 900 billion, maybe $300 billion, is not enough for the market. >> i think it is, we no longer have that we don't know how deep it is in the cause by the pandemic, we know exactly when the vaccine is coming around december 15, people will start getting the vaccinations of 10 million here or there, hundreds of thousands if not millions of people a day get vaccinated, i think it's going to be pent-up demand like the
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end of world war ii when people start to see a growth bomb happened because the first time they're able to spend some of this money that they have been saving, i think it helps and i wish we could see and employment benefits extended as well because we know where were going to get people to. stuart: john layfield i will not sell my microsoft on your advice, if you've got it wrong you'll never eat lunch in the studio again. thank you very much for joining us. see you soon. let's get to susan, i want to know more about the deal, salesforce and slack. susan: we are down at the lows this morning, down to 216, we have come back around $7. stuart: you said you like that level, the 9:00 o'clock hour it was at 217 and i made a comment and i said susan like that stock at that level. susan: i see it as a bargain because they came up with that strong quarter and they said
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they will make more money than anticipated in this fiscal year, that is pretty bullish the fact that the pain $27 billion which comes to around $45 a piece for each stock, that's a problem because some people think that is too high, their pain almost 50% more than the slack closing price last tuesday and before the news of the talk broke. the deal is mostly targeted with competing microsoft team which is actually been exponentially growing up 50% this year compared to slack which has stagnated at 12 million. stuart: should i sell my microsoft to get into salesforce? susan: asking for a friend but some would say even the combination it's not big enough to compete with microsoft. stuart: i will keep my microsoft for now. stuart: still to come, florida senator rick scott is here, he had the virus, does he think the state needs to shut down because there's a million cases in
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florida, i will ask him about that, the mayor of san jose, california called ignoring virus restrictions. our next guest is a real life grinch in washington working hard to ruin your american dream and he guesses who it is, we will tell you after this. ♪ a must in your medicine cabinet! less sick days! cold coming on? zicam® is clinically proven to shorten colds! highly recommend it! zifans love zicam's unique zinc formula.
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at 50% capacity bars had to be closed at 10:00 o'clock then instead of coming to my restaurant even for going to the bar, they will just go to the bar or not come to nashville at all, they say follow the science, our politicians in town are not following the facts. stuart: he is right, all these restrictions are a downer, that was the owner of peg leg pork or barbecue, he joined us last hour speaking out against new capacity limits in that city, look who is with us now, marsha blackburn, republican from tennessee. welcome to the program, most republicans favor opening up, in nashville they are closing down, what is happening here. >> there are a lot of frustrated businesses in nashville and there is no industry more hard-hit than our restaurant and our entertainment venues,
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although the support industries for those venues and we do have a spike in tendency, people are working through this in one of the things that we do know you cannot cure this by lockdowns, we are going to innovate our way out of this, vaccine, uk approved the pfizer vaccine today, you are going to have the approved in the u.s. next week, moderna is going to be right behind it and we are definitely praying who is been adversely impacted with this disease, we are also praying for those families that have lost their jobs and livelihoods. stuart: we care very much for them, that is a fact. what is this about speaker pelosi be in the grinch who is killing the american dream. the floor is yours, make your
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case. >> every christmas as a grinch we all know that in one of the things you're hearing quite a bit in washington, while speaker pelosi wants to talk about cannabis and cats, young the american people who want to talk about covid and cash in the pocket come christmas. we have twice put a bill on the floor that would've provided in extra round of ppp and a plus up and unemployment insurance for additional testing and rapid testing and liability protection and retail establishments and restaurants and children back to school, it is unseemly that the house is voting on these issues
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that have nothing to do with covid relief, it is unseemly that you're the speaker of the house who will talk about anything but covid relief unless you give her everything that she wants with her 3 trillion-dollar bill. as you know we have money left over from the cares act, we have money left over from the 13th reprogram, reposition that money and get it out the door to people who are hurting and businesses who are hurting so we can bridge them through to recovery. stuart: the $300 billion is already there. >> that is right. stuart: is it just the speaker of the house, speaker pelosi who will not say yes, get out there and spend it. >> it seems to be the growing opinion and expressed opinion,
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some of the democrats in the house that are backing away, i think nancy pelosi is one of the politicians that is losing support every single day because of the self-centered nature which she is approaching the entire situation with covid relief, there is money in the pipeline, it is sitting there, we could reposition it and get it out the door today if she would return to the negotiating table and work with leader mcconnell. stuart: we gotta go, were out of time, always a pleasure and thank you for being with us today. listen to this, a group of people going around knocking on ups gail seattle area homes telling the owners to get out, these people say is their property, dan springer live in edmonds washington, how are these people getting away with this? >> believe it or not police say
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what these people done is not illegal but they want to get the word out to residents and followers of this national movement had tried to lay claim to five houses in this area over the last month or so and each time they do the same thing they present a bogus document to the people and say the land that their house sits on is actually their land, all of the million dollar houses have been in the seattle suburbs, several are gated and they walked up to the homes and told the owners they had to leave because they were reclaiming their land, the homeowner told the people to get up the property and called police. in one case the house was on the market to be sold in may get, they actually placed one of their red flags out front but never did go inside, had they gotten in the home they would have had squatters make it challenging to get them out. >> higher end homes, large
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estate type homes on the waterfront where people would be attracted to those properties, woodway is tucked out of the way so it might take a while to determine 70 was in and on occupied home. >> the moors have been around since the 1990s, they call it an extremist group with an interpretation of sovereign doctrine that african-americans constitute an elite class within american society with special rights and privileges, followers have been put away for violent acts and in 2017 mark keith long shot a police officer in orlando and gavin long ambushed six cops in ohio killing three of them in a 2013 tabitha squatted with two of her kids in a 3 million-dollar home in maryland for a week, she assaulted police officer's and sentenced to 14 years in prison, the moors have no established leadership and were told that they have somewhere between 3 - 4000 followers spread out
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across the country but that is based on social media followings and not any hard data. stuart: thank you very much indeed, an astonishing story. leaked documents show china underreported virus cases, at the start of the pandemic. joe biden will he hold china accountable customer call take that up with the senator rick scott, republican from florida later this hour. california governor newsom could announce a new stay-at-home order sooner this week. where is the resistance in california. we will deal with that after this. ♪
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now it's your turn to lose weight, look great, and be healthy. get off the floor and get on the aerotrainer. go to aerotrainer.com, that's a-e-r-o-trainer.com. stuart: still a modest selloff, only done nine points in the nasdaq down 24 in a tiny uptick for the s&p. the market is flat this morning. california governor gavin newsom threatening new stay-at-home orders, virus cases are spiking in that state and so are hospitalization rates. several politicians skirting the rules, how about this, the mayor of san jose is now apologizing
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for having thanksgiving with his elderly parents, he broke the travel rose in california, he wrote the rules, tom del beccaro rescue california chair in the california republican party. what is it with your states politicians breaking their own rules, what are you up to out there? >> what am i up to, they can't get out of their own way and they have been predicting dire consequences all along that really have not come true, gavin in april said 25 million californians we get covid by may, that is not happened at his restrictions half. stuart: republicans flipped for seats in california, that's a really big win for the gop, are you predicting a red wave in california in 2022? >> you can also add to that that gavin tax hike prop 15 was
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turned down, the free uber pass and cashless bail sales all supported by newsom which is why were getting momentum in our recall of gavin newsom, were not predicting a red wave but there is pushback. stuart: i've often said this and i think i said it to you, in my lifetime i do not expect to see a republican and a statewide election in california. i maybe have five or ten years left, what is my chances. >> you have longer than that, we have a record over 800,000 signatures towards the recall, much gathered by volunteers, you can get more at rescue california.org, people are pushing back because they see this hypocrisy whether it's nancy pelosi getting a haircut were worried about hewlett-packard, the big tech california company leaving, they see the poor mismanagement and
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that's why were being seen here. stuart: you are gaining speed, we don't hear that in the rest of the country but it's conservatism, free markets, individual liberty, is a beginning to be popular in california? >> i think it's more about common sense. they know that gavin has overstated it and they know the hypocrisy is one of the best and most expensive restaurants in the country and at the same time dire consequences and his restrictions and messages are not working, they're pushing back with common sense and they know they don't have the money so why do a big tech increase and as broad rat based, small business is not just a republican think, salon owners, restaurants, these are everyday californians, i'm not say there's a way but conservatism, common sense is coming to bear in the state that's why we have success with the recall drive. stuart: tom t thank you for
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joining us. virus restrictions are worrying restaurant owners especially with winter weather setting in, it's been a theme of the program four months. kristina partsinevelos is in brooklyn, december, cold out today, diners don't want to eat outside, looks pretty grim for these guys, doesn't it. >> it just started snowing a few seconds ago and it's 43 degrees, outdoor dining is only expected to suffer, you've restaurants across the nation that are worried about whether they continue to whether the pandemic coming of curfews, restrictions, closures and now a lack of direct government aid, although a group of legislators, bipartisan legislators unveiled a $900 billion stimulus package yesterday, the cofounder of the independent coalition in her own restaurant in brooklyn, she said
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there has been nothing specifically catered and targeted to the service industries. >> the format of the ppe does not aid businesses like mine and other small independent restaurants around the country. we are seriously looking down the barrel of the closing gun. >> the other concern is the stimulus package does not include 120 billion-dollar restaurants act passed in the house. you have at this moment about 100,000 restaurants set of closed sense of pandemic and this is according to the national restaurant association. the survey showed that 40% of restaurants don't think they will survive the next 5 - 6 months if they don't get direct government aid, were talking about aid, not ppp loan, the industry is fighting back at the moment, you're seeing closures as well as restrictions across the country being legally challenged by restaurant groups and then you have some restaurant owners that are defying the odds, their staying open past curfew or their
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increase in the indoor capacity because they simply cannot survive in its without a doubt the industry is only going to get harder throughout the entire pandemic if they don't get aid. stuart: survival is the issue. thank you very much indeed. there is something on the prompter that is really troubling, ford is having troubles with the f150 truck, i've got an f150 truck, what is this all about. ashley: sales of that particular truck as you know that generates the majority of the profits of ford around the globe, they fell 27%, sales of that truck and the month of november, why, ford has pointed to a tight inventory from pandemic related factory shutdowns that begin in the spring of this year and also reduced amount of supply as it begins to rollout the redesign
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of the f150 pickup and six years. it's kinda like some of the problems have aligned at the same time, overall sales are down in november 21% but the 27% for ford f150 is quite eyebrow raising, it's not just ford, it's across the industry which saw u.s. sales fall in the month of november about 14% overall, the ford f150 is still in dema demand, they just need to get the parts in the production going and then they will be fine. stuart: keep it going force. f150. still to come, tim tebow is going to be here, he wants to make people more positive, i want to know how you plan to do that, prisoners could be at the top of the list for the virus vaccine, we have that story for you, florida senator rick scott
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says it would be great if president trump ran again in 2024. does he have any white house aspirations of his own, i will certainly ask him, he is on the show next. ♪ it's a thirteen-hour flight, that's not a weekend trip. fifteen minutes until we board. oh yeah, we gotta take off. you downloaded the td ameritrade mobile app so you can quickly check the markets? yeah, actually i'm taking one last look at my dashboard before we board. excellent. and you have thinkorswim mobile- -so i can finish analyzing the risk on this position. you two are all set. have a great flight. thanks. we'll see ya. ah, they're getting so smart. choose the app that fits your investing style.
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stuart: one of the main themes of this program is my opinion, got it open the schools, it is a priority, open them up again, now, soon. the cdc director, mr. redfield has come on board with that point of view, he says the data shows that schools are not a transmission source of covid, this is the cdc saying this, redfield thinks kids that did virtual learning will have a higher positivity rate than kids who actually went to school because it puts them in an
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environment where the spread could happen. he says if schools and airlines can do this safely, then businesses can do it safely to. the major point of view from the cdc, supported the idea, you got open the schools. the million-dollar question who should get the vaccine first, some people think prisoners should be at the top of the list. who is saying that. lauren: the state of colorado, the public health department has a draft distribution plan and he says the personal go to critical workers followed by those most at risk. then in the second tier, those in congregate housing like prison and homeless shelters, critics are slamming this plan as prioritizing murderers and rapists above innocent adults with pre-existing conditions as well as the general public, colorado's democratic governor jared polis who tested positive
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for covid-19 is walking some of this back, there was a draft plan and he says no human being should be denied the vaccine so no prisoner should be placed ahead of others just because they are prisoner. bottom line, these are the obstacles stay safe with the distribution plan, you will not make everybody happy, you need a plan and it's going to be different where you live. stuart: it is not easy, that's a fact. lauren: controversial. stuart: florida is the third state to hit the 1 million case load level, rick scott republican from florida joins us now. first of all i know you had the virus, how are you feeling now. >> i am fine, i had a very mild case, we're doing fine and i'm back in d.c. working trying to make sure we don't allow the government to get shut down and we don't waste your dollars. stuart: were very glad to hear
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that, governor desantis in florida says he will not shut down florida despite the rising caseload, our floridians comfortable with that decision? >> absolutely, we don't want to shut down our economy, this is your own personal responsibility, where mask, social distance, if you been around 70 tested positive or you did, you gotta quarantine, that's what we gotta do, were really anxious to get the vaccine out and were optimistic that the vaccine will allow us to get our economy going faster again that we gotta keep the economy going so people can have a living and put food on the table, as simple as that. stuart: the open up concept is being spread, we have the cdc, doctor redfield saying kids should be in school. i believe the florida schools are open, it seems like your message should spread across the country. >> i think doctor redfield was listening to you, he must be
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listening to the program, what you been saying all along we gotta get the economy going again, our schools going again, i completely agree we cannot shut the economy down. but do it safely. you can social distance, you can wear a mask and if you tested positive, you got according team, you gotta be careful, we gotta do that and have robust testing, we gotta do all these things together but keep the economy going. stuart: you been on this program taken a very hard line on china, now we have leaked documents revealing that china underreported the virus cases by half in the early stages of the pandemic, do you think the biden team will hold china accountable? >> of the communist party opens her mouth, you know it's a lie, there is nothing that they do that is not a complete lie, all propaganda, everything that comes out of their mouth, it is disgusting with the communist party of china is doing, i hope the biden administration understands that we gotta hold them accountable whether it's
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our jobs, technology, putting a million people in prison, what they've done with hong kong taking away the basic rights is individual like joshua wong that 17 peaceful protests always put in prison for doing a peaceful protest. communist party of china is a tele tehran party that wants to control the world including the united states, we gotta take them seriously, stop buying anything that is made in communist china no services, no apps, no products made in communist china, they are not our friend, they become our archenemy. stuart: how about president trump running again in 2024? >> he's had a good four years, he ought to do it again, that's what he wants to do i agree with his policies and look at the economy we had before covid, the economy is coming back, if you look at the deregulation and the reducing tax i believe in these things. stuart: if he did not run would you? >> i am not planning to run i'm
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a new senator working on my job at the senator and trying to make sure to take care of everybody in florida. stuart: if you do announce, do it on this program please. great guy, when god you are doing well. this next guy does not need any introduction, tim tebow is next. it's moving day. and while her friends
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are doing the heavy lifting, jess is busy moving her xfinity internet and tv services. it only takes about a minute. wait, a minute? but what have you been doing for the last two hours? delegating? oh, good one. move your xfinity services without breaking a sweat. now that's simple, easy, awesome. xfinity makes moving easy. go online to transfer your services in about a minute. get started today.
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>> the best question for tim tebow, what is steve cohen, the new owner of the new york mets going to do with his minor-league contract, is he still going to be playing baseball, that is the question because steve cohen is great. stuart: that was former new york giants running back tiki barber with a great question for our next guest. tim tebow of course. tim welcome to the program great to have you on board. >> thank you so much i appreciate you having me. stuart: are you going back to baseball next season? >> i still love the game, i love competing, there's so many other things on my heart that i want
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to pursue, i don't know how much longer i'll be playing sports because there's so many things that i thank god has on my heart that i want to pursue but i still love the game and i still want to go compete. stuart: that was a dodge. are you going back to baseball next season. >> that's what i'm planning on doing yes, sir. >> that was a straight answer, we kinda like that. >> sometimes is not just a yes or no, you gotta pena with a picture in context, sometimes is not just yes or no, sometimes context help. stuart: if your fox news anchor you want yes or no answers, it's as simple as that, tim. it is that simple. let's get serious, you are the founder of the new social app called kindly, i think that's a correct pronunciation, focused on positivity. >> i'm one of the founders, i'm grateful to be part of the team and is something that is so
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exciting to me because honestly there is so many different social media apps but i think this one is a little bit different because it's a social unity app where our goal is to be able to spread acts of kindness because we believe it is contagious in a day and age where so much divides people but maybe this could be something that in the middle of everyone's day they need to have a little joy and be cheered up a little bit, they can go to the app and see people serving act of kindness all over the world and our goal is to have a billion act of kindness and raise $1 billion of charity is free for anybody to sign up and have an account but before you're allowed to post you have to donate 1 dollar to charity and there's a list of charities and they donate 1 dollar to charity in a hundred of that goes
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directly to charity and we want to be super transparent with that, our goal if you can imagine a billion acts of kindness, that's a billion different people being helped in the billion dollars going to charity we think that's a pretty cool goal. stuart: that is really cool, i can jump on board with that even if it's a dollar i will jump on board without big time. give me an example of an act of kindness, if i get into the app, up comes ask of kindness like what. >> for example we spent four hours at a gas station pumping gas for everyone who showed up, it did not matter who you were, where you were, what your background was, if you showed up we were pumping your gas and there's a bunch of people blown away and they said what's the catch, no ma'am, no, sir, no catch, we believe in acts of kindness and we would like to serve you today and people were blown away and then they would say why are you doing this and we would tell them, we believe in acts of kindness and we want to make it a little bit better and there's no catch, there is no catch and they would away say, for the most part, not everybody but a lot of people would say i want to do this for
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someone else and we would encourage them to, what were trying to do, this would be the home for the pay forward movement, some of those people that received acts of kindness whether pumping the gas or getting the groceries or doing numerous amount of things for them that they would receive the kindness and feel blessed to be a blessing to somebody else. stuart: you are a good man, tim no matter what they say. what's it like being a newlywed during a pandemic? >> i'll tell you what, i guess that's the only time i been a newlywed, i don't know what it's like to be a newlywed not to be during a pandemic. stuart: you are sharp. that was the best answer to that question i've ever heard. >> a prolonged honeymoon. stuart: it is kindli, we shall remember that, thank you for joining us. >> i appreciate it so much, have a blessed day. stuart: more "varney" after
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♪. stuart: sorry, folks i'm laughing here not about the market but about the "friday feedback" that is coming up. i'm trying to speculate what kind of questions you might ask. susan, i don't know, there are all kinds of questions available to ask at this point. we want to know what you think of the show, good, bad, otherwise. send your thoughts to varneyviewers@foxbusiness.com. okay. is there a particular question that you would like to answer?
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susan: are we soliciting negative questions again. stuart: yes. hate stu week, what is wrong with that. susan: we're sifting through them. stuart: send the hate mail, boys and girls, please. my time is up. thankfully, neil, it is now yours. neil: i will be happy to share the hate mail. just want to do anything i can, stuart. looking forward to friday, my friend. meantime looking forward to as you were kind of indicating, a flat day on wall and broad. dow jones industrials not budging. a strong start to the month. the dow still a little ways here, keeping an eye own that all of this has to do with confusion over whether we get stimulus in a lame-duck session in congress. yesterday i had a chance to talk
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